In the modern-age online gambling industry, cryptocurrencies have really caught on. Online casino players prefer using them to make their deposits and cash out their winnings, due to the speedy and untraceable transactions, and the anonymity and security cryptocurrencies provide them with. While Bitcoin was one of the first, today, there are many digital currencies available to online casino players, and Dash is one of them. But this digital currency is way easier to use and more convenient.
How is Dash different from any other cryptocurrency?
It looks like a digital currency invented to become an improved version of existing cryptocurrencies. Seriously, it is way more advantageous and easier to store, exchange and use.
It was first released in 2014, six years after Bitcoin was first invented. In those six years, its inventor Evan Duffield managed to discover ways to improve cryptocurrency transactions as we knew them before Dash appeared.
Sure…
…Dash is based on Bitcoin’s blockchain technology, and sure, it functions pretty much the same way as other cryptocurrencies, only it was enhanced further with several superb functionalities.
Due to its growing popularity and many benefits it offers users, it is becoming a digital currency used across many online casinos, with the potential to be accepted in many others.
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What Is Dash?
As introduced, Dash is a digital currency that was formed on the basis of Bitcoin. Therefore, it uses the same public ledger technology to complete transactions. However, if that was the only thing it offered, it wouldn’t be much different than Bitcoin, right?
Well…
…its inventor managed to boost it in many ways. The main difference between Dash and Bitcoin, and other cryptocurrencies for that matter, is that Dash uses masternodes. Masternodes are servers designed to provide users with further advanced governance and services on the underlining blockchain technology. This novel concept was invented and premiered along with the cryptocurrency. It hosts full copies of the blockchain and adds a second layer of services facilitating advanced features such as PrivateSend, InstantSend and usernames on the network. These masternodes are useful to all parties included since they boost storage and sending functionalities across the blockchain.
PrivateSend…
…is one of its star features that ensures you get even more untraceable transactions than with other cryptocurrencies. While other cryptocurrencies would normally openly be sent directly from one wallet to another using the wallet addresses, with PrivateSend, each Dash coin is broken up in pieces, mixed up, and validated by a different masternodes, to completely and entirely eliminate any trace of the transaction.
InstantSend…
… on the other hand, is a feature that thanks to the masternode network, allows transactions to be completed in literally 1 to 2 seconds. Instead of waiting for the transaction to be verified for a while, just like with other cryptocurrencies, with InstantSend, the funds are validated by masternodes and momentarily available after you’ve confirmed the transfer. Moreover, the transfer is immediately sealed so that no double-use of the same coins can happen.
Truth be told, this cryptocurrency has many other features that are worth your attention, but these two are definitely the leading ones.
How to Get Started with Dash?
Getting started with Dash is actually no different than with other cryptocurrencies. This is actually a plus since you won’t need to do separate research to figure the whole process out. If you’ve ever owned a digital currency or at least read about the process of obtaining coins, you should know what to do.
There are several ways…
…to get to your coins. Mining is always a way, for one. As you may as well know, mining is the process in which powerful computer processors look for solutions to a mathematically difficult problem. With Dash’s X11 hashing algorithm, which reduces power consumption compared to other techniques used by other cryptocurrencies, you could mine your own coins, hence, get your reward in Dash coins for the solution of the math problem.
But just like with any other cryptocurrency or fiat currency for that matter, you can also get your coins at exchanges. There are many exchange platforms where you can obtain your coins in exchange for other crypto coins or fiat currencies.
Once you get your coins…
…you would need to choose a wallet where you’ll store them. If you go to its official website, you will find many suggestions. You will see that you can use mobile, desktop, web, hardware, and paper wallets, in addition to text (SMS) wallets, which is what makes this cryptocurrency so straightforward and easy to use and store.
On that note…
…Dash offers another exceptional thing: you can sell and buy coins at ATMs. Go to its official website and you will find the global ATM map where you can find the nearest ATM to get or sell some of your coins.
Depositing and Withdrawing with Dash
The advantages you get by using this digital currency are evident. And, recognized by many online casino players. Thanks to the fact that Dash has a huge user base, it has quickly found its way into the online gambling industry. As introduced, it is a cryptocurrency already offered across many online casinos, but many more are about to add it on their lists of accepted payment methods. It is a highly innovative solution, and quite an appropriate one for online casino transactions, so it shouldn’t take long for it to be available across all leading casino sites.
But first…
…you need to find one that already accepts it and create an account with it. While you’re registering your account, you would probably be asked to choose and register a deposit method, as well. Go to the casino’s Cashier or Banking page, or alternatively Deposit page, and find Dash’s logo there. Click on it and follow the instructions.
Making deposits…
…with this cryptocurrency is pretty straightforward. This is where Dash is similar to other digital currencies. You would need to access your wallet, and determine the amount of coins you would like to deposit on your online casino account. Enter that amount, and insert the online casino’s wallet address in order to complete the transaction. Once you confirm the transaction, the coins will reach your online casino balance in 1 to 2 seconds time.
Withdrawals…
…with it is as easy. You would have to repeat the same steps, with one difference. As you log in to your online casino and go to the Cashier/Banking/Withdrawals page, you would need to click on its icon again. This is when you would need to add the amount of coins you would like to withdraw and your wallet address. Once you confirm your request, should everything be in place, the coins should reach your wallet in no time.
Keep in mind…
…that entering the right wallet address is of the essence. You don’t want the coins to reach a wrong destination, since, just like with any other digital currency, transactions with Dash are irreversible. So double-check, and even triple-check whether the address you’ve entered is the correct one before you confirm any transaction with it.
Pros and Cons
Even though the benefits prevail, just like with any payment method, Dash has certain disadvantages. We’ll shortly mention both so that you can more easily decide whether it is a payment method you would want to use or not.
On the plus side…
…it is a digital currency that puts you in full control of your money and your privacy. You can send and receive coins by anyone, anywhere across the globe at any point in time. No delays, no bank holidays, no banks for that matter, nor hidden fees to deal with when you least expect it. No personal information has to be shared in the transaction, either, so your identity will never be revealed, yet you will be able to send and receive coins on a peer-to-peer basis, with the transfers being verified by both parties.
Then, of course, you have the unrivalled transaction speed, the top-notch security and the super untraceable transfers enabled thanks to the masternodes. These three are the real reasons why you should choose Dash over any other cryptocurrency. Plus, the convenience of choosing from so many wallets, and so many ways to obtain or sell your coins is unparalleled. You can even do it at ATMs! Considering it is a digital currency that is being continuously improved, expectations are that it would continue expanding its offering, so make sure you stay industry updated and be the first to discover any new functionalities added to it.
Unfortunately…
…there are some downsides of using this digital currency. The most obvious one is irreversible transactions. Each transaction is instant and super untraceable, true, but also final. While the masternodes mix up the coins and make them untraceable, they also make them impossible to track back.
The volatility is another drawback, but you’ve probably expected this, since all cryptocurrencies undergo frequent fluctuations, and so does Dash. Its value is not yet stable, but that’s mainly because it is a relatively new cryptocurrency that still hasn’t received the recognition it deserves. This may scare you away from transacting in these coins or holding them for that matter. But if you’ve made up your mind in obtaining a digital currency, you would have the same problem with any you choose to go with. In that case, if doubting which one to choose, go with Dash because, as you can see, it offers so much more than any other cryptocurrency does currently.
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FAQs
No. Dash is an internationally used and available digital currency, and you will find no geographical obstacles to using it. Some countries may not have ATMs that support it, though. However, make sure you check your country’s rules and laws when it comes to the use of digital currencies overall. Some countries forbid cryptocurrencies, so that may be the only reason why you could not be able to use it.
If you go to its official website, you will see that Dash recommends several desktop and mobile wallets, such as Bitnovo, Exodus, Dash Android, Coinomi and Jaxx Liberty among others.
There a huge choice of exchanges you could visit to purchase your coins from, but Coinbase is always users’ first choice. PandaExchange, Cointrade, Bibox, and DigiFinex are also great options. You could explore others by doing your own research, as well, if interested in getting started with the digital currency, because there are more than 200 exchanges and brokers where you can obtain it.
Dash can be used in many other industries. You can actually use it to pay your phone bill, buy a plane ticket or a cup of coffee. It can basically be used for any online purchase or payment. You can send coins to friends and family, use it for subscriptions, buying groceries and dining out, business services, hotels and lodgings and purchasing electronics and IT equipment. Just go to its website and explore all of your options.
At the moment of writing, the coin value is $72. However, as mentioned, its value fluctuates continuously and being a fairly new cryptocurrency, it is not yet stable. The all-time-high value it has reached so far is $73, but that doesn’t mean that it is impossible to increase even further in the future, particularly due to its growing popularity.
Just like with any fiat and digital currency, its value depends on the current market situation and its popularity, for that matter. How much supply there is, how big of a demand for it there is, and how many people have shown interest in it, are the determining factors.
this is cryptocurrency used to be my main banking method for a few years and for a few online gam bling sites, the fee’s are one of the lowest, are almost instantly send, and same applies for withdrawals, a coin that i ditnt heard about on the last months , but i can recommend this crypto based on the time that i’ve been using it without any kind of problems
Using Dash for online casino deposits has been a smooth and cost-effective choice for me. The fast transaction times and low fees really enhance the gaming experience. However, it’s still not as universally accepted as the big names, so I use it alongside other methods. If your casino supports Dash, it’s definitely worth trying out.
Dash is a new alternative to crypto currency . It’s fast reliable and trendy. Alot of places use dash and It’s like the name it will be done in a dash it but some places like most big name crypto casinos but when they do I would use it
Dash offers fast transactions with low fees, making deposits and withdrawals smooth. It’s also more private compared to other cryptos, thanks to its PrivateSend feature. However, not all casinos accept Dash, so it’s important to check beforehand.
I use Dash for online gambling because its lightning-fast transactions and ultra-low fees let me jump into action without delay. Its privacy-focused features mean my deposits and withdrawals are secure, keeping my betting experience smooth and uninterrupted.
I recently switched to Dash for my online casino banking, and it’s been a great decision! The instant transaction speeds mean I can jump right into my favorite games without delay. I appreciate how straightforward the process is—no complicated steps. The low fees are a bonus, allowing me to keep more of my winnings. While I wish more casinos accepted Dash, my overall experience has been fantastic. If you’re looking for a smooth banking option, I highly recommend giving Dash a try!
Dash was pretty painless to purchase and then transfer out to whichever casino I was depositing to at that time. It’s pretty quickly transferred and I thought the fees were quite reasonable.
Dash is another great crypto option for depositing and withdrawing because it’s fast, efficient and secure and has low fees for transactions and low confirmation times. I wish more casinos accepted it because it really is a great crypto coin to use right across the board.